Thomas P. Schnettler

Tom Schnettler is vice chairman of Piper Jaffray Companies, and managing
director in the merchant banking group, as well as a member of the general
partner. In his merchant banking role, Schnettler serves as co-CEO of PJC
Capital Partners LLC, the registered investment adviser to the Piper Jaffray
merchant banking private funds. He initiated the merchant banking business at
Piper Jaffray in 2008 and has overseen the division since that time. Schnettler
also serves on the Investment Committee of Simmons Private Equity Fund II, an
affiliate of Piper Jaffray. Schnettler also served as president and chief operating
officer of Piper Jaffray from 2008 to 2011, and as chief financial officer between
2006 and 2008. Prior to that, Schnettler served as head of the Piper Jaffray
corporate and institutional services business beginning in 2002, and as head/cohead
of investment banking beginning in 2000. From 1989 to 2000, he cofounded
and led the healthcare investment banking group. Schnettler joined the
Piper Jaffray investment banking group in 1986.

Schnettler has served on the board of, or held board observation responsibility
for the following portfolio companies: Torax Medical, Vitals, OrthoAccel, Sport
Ngin and Xenex Disinfection Services.

Over the course of his career he has served many not-for-profit organizations
including Saint John’s University, The Lillehei Heart Institute at the University of
Minnesota, Catholic Charities of St. Paul and Minneapolis and the American
Heart Association.

Schnettler graduated from Saint John’s University in Collegeville, Minnesota and
holds a Juris doctorate from Harvard Law School.

Robert P. Rinek

Managing Director, Merchant Banking
Co-CEO, PJC Capital Partners LLC

Bob Rinek is the co-CEO of PJC Capital Partners LLC and a managing director in the merchant banking group, as well as a member of the general partner. Rinek has worked in the investment banking and private equity industry for more than
35 years. Prior to Rinek’s current role, he established the firm’s financial institutions group (“FIG”) in the late 1980s and served as global group head of FIG until December 2007. He is also a former board member of Piper Jaffray Ventures. Rinek joined Piper Jaffray in 1982 and was previously with the Northern Trust Company and ITT Financial Corporation.

Rinek has served on the board of, or held board observation responsibility for, the following portfolio companies: PerfectServe, Harvest Power, LogRhythm, Lattice Engines, GutCheck and Living Proof.

Over the course of his career, Rinek has served on, or currently serves on, the boards of many for-profit and non-profit organizations, including RxFunction, Twin Cities Public Television, the Science Museum of Minnesota, The Equipment Leasing & Finance Foundation and Multi Service Corporation.

Rinek is also actively involved in the investment community. He is a founding member of Twin Cities Angels, which makes angel investments in start-up companies in the Minneapolis/St. Paul area. He has served on the board of Marshall Financial Ventures, an equity fund focused on investing in late-stage financial service companies.

Rinek graduated from Denison University and earned a Master of Business Administration degree from The University of Chicago Booth School of Business. He also holds the Certified Management Accountant (CMA®) professional designation.

Theodore J. Christianson

Managing Director, Merchant Banking

Ted Christianson is a managing director in the merchant banking group, as well as a member of the general partner. Christianson has worked in the financial services and investment banking sectors for more than 27 years. Prior to Christianson's current role, he served as global group head of Piper Jaffray's capital advisory group which includes the firm's private equity placement, financial restructuring and debt capital markets product businesses. Christianson joined Piper Jaffray in 1998 as a member of the newly established private equity placement group where he was instrumental in building the group into one of the leading private equity placement practices in the industry. Christianson assumed management responsibilities of the firm's private equity placement practice in 2001 and later established and assumed management responsibility for the capital advisory group in 2008. Christianson also served in various senior leadership positions as a member of the firm’s Investment Banking Commitment Committee and Global Group Head Council.

Prior to joining Piper Jaffray, Christianson held various positions during his nine year tenure with Norwest Bank (now merged with Wells Fargo). His last position was senior banker in Norwest's private placement group where he specialized in raising corporate taxable and tax-exempt debt on behalf of corporate clients.

Christianson served on the board of the Minnesota Zoo Foundation for eight years where he served as treasurer and chaired both the governance and finance committees.

Christianson graduated from Colorado College and earned a Master of Business Administration degree from the University of Minnesota’s Carlson School of Management.

David P. Crosby

Senior Adviser, Merchant Banking

David Crosby is a managing director in the merchant banking group at Piper Jaffray. Crosby serves in the capacity as a senior adviser for PJMB Fund II.

Crosby has extensive transaction experience and has been an investment banker at Piper Jaffray since 1971. He directed the activities of the investment banking group for 19 years, and he has previously served on the management committee and board of directors for Piper Jaffray Companies.

Crosby’s principal avocation since college has been investing in marketable equity securities. For the last 20 years, he has guided investments for his extended family. This role has been a natural extension of the experience he has gained as an investment banker.

Crosby has also been involved in many not-for-profit organizations where he has and continues to be involved on many investment and finance committees. These organizations have included: the Piper Jaffray Retirement Committee, The
McKnight Foundation, The Bush Foundation, University of Minnesota Investment Advisory Committee, Carolyn Foundation, Dunwoody College of Technology, Lakewood Cemetery, The Stevens Square Foundation, The Minneapolis Foundation, The Blake School and Grinnell College.

Crosby graduated from Yale University and received a Master of Business Administration degree from Stanford University Graduate School of Business.